But some experts suggest that, although scientifically useful, the carbon budget may not actually be promoting climate action among policymakers.
They say the global community should focus less on how much carbon can still be emitted and more on setting concrete timelines for transitioning to a net-zero carbon world.
If emissions continue at the current rate, temperatures will bust the Paris agreement limits by the year 2040.
Scientists say that urgent steps need to be taken now to keep global warming from exceeding 1.5C and causing a "climate catastrophe". While the United Nations panel says technically that's possible, it saw little chance of the needed adjustments happening. The 1.5 was at the urging of vulnerable countries that called 2 degrees a death sentence. Governments must also work transform their infrastructure, the report's authors warn.
And we're already seeing just how powerful climate change can be.
The transition necessary to meet the 1.5-degree target is nearly unimaginably huge, and will require large investments. While he observed that numerous questions might have been better put to Nordhaus, he gave a formidable performance, demonstrating how the issues of climate change are not far from his main focus either.
The US government also intends to freeze mandates that ensure new cars pollute less and cut limits on the greenhouse gas methane that is released during oil production. In their conclusions, environment ministers recall the progress made in recent months by the European Union on legislation which delivers on its commitments to reduce greenhouse gas emissions.
The final version includes a revised, slightly larger carbon budget calculated using updated methods, according to authors of the report. Corals have already been battered by our current rise in global temperatures, which has risen by 1°C over the past 150 or so years. The conclusions are based on an analysis of more than 6,000 climate separate studies. But Monday's report comes amid a reactionary political climate.
It is critical that world leaders understand the IPCC report and use it as a template for immediate action.
Allowing the global temperature to temporarily exceed or "overshoot" 1.5 °C would mean a greater reliance on techniques that remove Carbon dioxide from the air to return global temperature to below 1.5 °C by 2100.
"There are material differences between 1.5 C and 2 C", says Cleetus.
"Scientists are increasingly aware that every half degree of warming matters", Chris Weber, WWF's global climate and energy lead scientist, said in a statement.
The 2018 Nobel prize for economics was awarded to William Nordhaus, a Yale University economist who pioneered the economic analysis of climate change.
But no matter how many warnings we receive - and let's be honest, at this point we have had far too many - no one is willing to put their foot down and pump the brakes.
A summary of the Special Report on Global Warming is available here. Annual carbon dioxide pollution levels that are still rising now would have to drop by about half by 2030 and then be near zero by 2050.
Rapid cutting of carbon from the economy can be achieved.
The IPCC is the leading world body for assessing the science related to climate change, its impacts and potential future risks, and possible response options. He supports this prediction by reflecting on the United Nations agreements to address substances that were causing an ozone hole, such as chlorofluorocarbons, "there were many people saying this would be enormously expensive and hard and then once we actually set about reducing emissions of chlorofluorocarbons it was a non-event".
"We want to stop going over the cliff by applying the brakes now", Peters told E&E News.
Reprinted from Climatewire with permission from E&E News.